The weekly price action of the LTCUSD pair is clearly on the rise above the low boundary (blue) of the pitchfork. There is plenty of upside potential, all the way to the all time dynamic resistance ceiling formed by the higher highs trendline. But that is only potential. Let us see how LTC is doing against BTC.
The weekly LTCBTC pair on the same time horizon looks completely different. One can only conclude that BTC has outperforming LTC for long now, ever since early 2018. In fact the price just recently made ATL in terms of BTC, and started rising from there. The chart is clearly bullish most likely for the coming weeks/months. The upper boundary (blue) of the downward pitchfork channel is creating a strong resistance for the price action, when ever it reaches it. The boundary is around 0.007 at the first months of 2022. For me that would be a target to observe the price action carefully and if necessary to take profit from LTC. The price of LTC could well be above 1000 USD by then.
Take care and trade with caution.
Cheers, Whoop
The weekly LTCBTC pair on the same time horizon looks completely different. One can only conclude that BTC has outperforming LTC for long now, ever since early 2018. In fact the price just recently made ATL in terms of BTC, and started rising from there. The chart is clearly bullish most likely for the coming weeks/months. The upper boundary (blue) of the downward pitchfork channel is creating a strong resistance for the price action, when ever it reaches it. The boundary is around 0.007 at the first months of 2022. For me that would be a target to observe the price action carefully and if necessary to take profit from LTC. The price of LTC could well be above 1000 USD by then.
Take care and trade with caution.
Cheers, Whoop
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